Fisher Asset Management LLC Increases Stock Position in Alkermes plc (NASDAQ:ALKS)

Fisher Asset Management LLC increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,942 shares of the company’s stock after purchasing an additional 572 shares during the quarter. Fisher Asset Management LLC’s holdings in Alkermes were worth $1,663,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Alkermes in the third quarter valued at approximately $387,000. Raymond James & Associates grew its stake in Alkermes by 32.4% in the 3rd quarter. Raymond James & Associates now owns 26,592 shares of the company’s stock valued at $745,000 after purchasing an additional 6,510 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Alkermes by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,761,316 shares of the company’s stock worth $77,344,000 after purchasing an additional 106,749 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Alkermes by 7.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,366 shares of the company’s stock worth $823,000 after buying an additional 2,082 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Alkermes by 68.2% during the third quarter. Mackenzie Financial Corp now owns 122,225 shares of the company’s stock valued at $3,403,000 after buying an additional 49,561 shares during the period. 95.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

ALKS has been the subject of a number of research reports. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price for the company. in a research report on Tuesday, February 20th. Piper Sandler reissued an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a research report on Monday, April 1st. Robert W. Baird started coverage on Alkermes in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price on the stock. StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Jefferies Financial Group upped their price target on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.38.

Insider Activity

In other news, SVP Christian Todd Nichols sold 10,417 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $28.10, for a total transaction of $292,717.70. Following the sale, the senior vice president now directly owns 65,911 shares in the company, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.76% of the company’s stock.

Alkermes Stock Down 2.0 %

Shares of NASDAQ:ALKS opened at $24.10 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. The business has a 50 day simple moving average of $26.39 and a two-hundred day simple moving average of $26.68. Alkermes plc has a 1 year low of $22.01 and a 1 year high of $33.71. The firm has a market capitalization of $4.08 billion, a PE ratio of 9.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The company had revenue of $350.37 million for the quarter, compared to the consensus estimate of $360.26 million. During the same period last year, the business posted ($0.10) EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that Alkermes plc will post 2.39 EPS for the current year.

Alkermes declared that its Board of Directors has initiated a share repurchase program on Thursday, February 15th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Alkermes Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.